{"id":16518,"date":"2021-05-12T19:05:29","date_gmt":"2021-05-12T19:05:29","guid":{"rendered":"http:\/\/ci0282ed2ea0002568"},"modified":"2021-05-12T19:05:29","modified_gmt":"2021-05-12T19:05:29","slug":"bitmex-executives-trial-set-for-march-2022","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/bitmex-executives-trial-set-for-march-2022","title":{"rendered":"BitMEX Executives Trial Set For March 2022"},"content":{"rendered":"
<\/div>

The former executives of leading bitcoin derivatives platform BitMEX are set to have their day in court. <\/p>\n

Former CEO Arthur Hayes, cofounder Benjamin Delo and former CTO Samuel Reed are facing a money laundering trial<\/a> that is now slated to begin on March 28, 2022 \u2014 18 months after authorities first publicly accused them of wrongdoing.<\/p>\n

Per a previous Bitcoin Magazine<\/em> report<\/a>, Hayes turned himself in to the authorities last month following allegations that BitMEX had violated KYC laws under his watch. And Delo turned himself in<\/a> to authorities in March.<\/p>\n

According to BeInCrypto<\/em><\/a>, BitMEX is also facing other lawsuits. For instance, a lawsuit \u201cwas filed by traders Yaroslav Kolchin and Vitaly Dubinin, who claimed that it engaged in market manipulation and unregistered trading. The plaintiffs further claimed that the exchange \u2018looted\u2019 $440 million while being aware of the investigation.\u201d<\/p>\n

The firm has tried to meet the demands of authorities by updating its KYC requirement and forming a surveillance partnership with Eventus Systems. But the U.S. Department of Justice claims that it \u201cdid not implement AML procedures for U.S. traders, which is one of the primary charges against it,\u201d per BeInCrypto<\/em>, will still likely be addressed in the upcoming trial of its former executives.<\/p>\n","protected":false},"excerpt":{"rendered":"

The former executives of bitcoin derivatives platform BitMEX face trial over money laundering charges next year.<\/p>\n","protected":false},"author":3283,"featured_media":7631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[159,1536,219],"class_list":{"0":"post-16518","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-arthur-hayes","9":"tag-bitmex","10":"tag-regulation"},"author_data":{"id":3283,"name":"Oluwapelumi Adejumo","nicename":"oluwapelumi-adejumo","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/oluwapelumi-adejumo-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/judge-rules-against-craig-wright.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3283"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=16518"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/7631"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=16518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=16518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=16518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}